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Fly News Breaks for January 10, 2017
SIMO
Jan 10, 2017 | 12:02 EDT
In a recap of Silicon Motion's presentation at Needham's Growth Conference, analyst Rajvindra Gill stated that CFO Rayadh Lai "enthusiastically spoke to a packed room" and highlighted the expanding value-added role of Controller ICs managing NAND devices. The analyst, who thinks Silicon Motion is benefiting from the accelerating transition toward SSD solutions, reiterates his Buy rating and $60 price target on the stock and did not address in this note why the shares might be down over 3.5% near midday.
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